First Trust Correlations

FXN Etf

USD 18.05 0.13 0.73%

The current 90-days correlation between First Trust Energy and Pacer Lunt Large is -0.32 (i.e., Very good diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Energy and DJI is 0.6 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Energy. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in american community survey.

Moving together with First Etf

0.91	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.91	VDE	Vanguard Energy Index	Pair Corr
0.79	XOP	SPDR SP Oil	Pair Corr
0.88	OIH	VanEck Oil Services	Pair Corr
0.92	IYE	iShares Energy ETF	Pair Corr
0.91	IXC	iShares Global Energy	Pair Corr
0.91	FENY	Fidelity MSCI Energy	Pair Corr
0.98	FTXN	First Trust Nasdaq	Pair Corr
0.85	IEO	iShares Oil Gas	Pair Corr
0.65	CPST	Calamos ETF Trust	Pair Corr
0.66	ITDD	iShares Trust	Pair Corr
0.92	EIPX	First Trust Exchange	Pair Corr
0.7	MRK	Merck Company Earnings Call This Week	Pair Corr
0.81	JNJ	Johnson Johnson	Pair Corr
0.64	AA	Alcoa Corp	Pair Corr
0.75	WMT	Walmart Common Stock	Pair Corr
0.8	CAT	Caterpillar Earnings Call Today	Pair Corr
0.84	PFE	Pfizer Inc Earnings Call This Week	Pair Corr
0.64	INTC	Intel Upward Rally	Pair Corr
0.78	DD	Dupont De Nemours	Pair Corr
0.64	CVX	Chevron Corp Earnings Call Tomorrow	Pair Corr

Moving against First Etf

0.62

MPAY

Exchange Traded Concepts

Pair Corr

Related Correlations Analysis

	FXG	FXD	FEMS	FXZ	TLTE	RFV	FEP	UIVM	XMVM	PALC
FXG		0.43	0.75	0.67	0.68	0.61	0.54	0.54	0.37	0.58	FXG
FXD	0.43		0.7	0.84	0.64	0.94	0.86	0.81	0.91	0.88	FXD
FEMS	0.75	0.7		0.93	0.96	0.81	0.89	0.89	0.7	0.87	FEMS
FXZ	0.67	0.84	0.93		0.9	0.87	0.96	0.97	0.87	0.96	FXZ
TLTE	0.68	0.64	0.96	0.9		0.71	0.89	0.87	0.62	0.86	TLTE
RFV	0.61	0.94	0.81	0.87	0.71		0.85	0.81	0.86	0.84	RFV
FEP	0.54	0.86	0.89	0.96	0.89	0.85		0.98	0.89	0.94	FEP
UIVM	0.54	0.81	0.89	0.97	0.87	0.81	0.98		0.9	0.93	UIVM
XMVM	0.37	0.91	0.7	0.87	0.62	0.86	0.89	0.9		0.86	XMVM
PALC	0.58	0.88	0.87	0.96	0.86	0.84	0.94	0.93	0.86		PALC
	FXG	FXD	FEMS	FXZ	TLTE	RFV	FEP	UIVM	XMVM	PALC

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First Trust Constituents Risk-Adjusted Indicators

There is a big difference between First Etf performing well and First Trust ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze First Trust's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FXG	0.63	0.02	(0.04)	0.12	0.70	(0.72)	1.35	(1.11)	3.17
FXD	0.90	(0.05)	(0.04)	0.02	0.99	(0.99)	2.04	(1.67)	5.66
FEMS	0.57	0.11	0.12	0.31	0.45	(0.65)	1.28	(0.86)	2.75
FXZ	1.07	0.28	0.20	0.66	0.89	(1.19)	2.68	(1.94)	5.85
TLTE	0.59	0.14	0.16	0.33	0.44	(0.66)	1.70	(1.00)	3.12
RFV	0.78	(0.02)	(0.02)	0.05	0.91	(0.84)	2.42	(1.60)	4.85
FEP	0.57	0.15	0.18	0.29	0.42	(0.63)	1.46	(1.19)	2.87
UIVM	0.49	0.19	0.21	1.31	0.26	(0.56)	1.38	(1.04)	2.82
XMVM	0.67	0.13	0.12	0.42	0.54	(0.84)	2.17	(1.14)	4.57
PALC	0.60	0.06	0.01	0.33	0.63	(0.63)	1.37	(1.08)	2.82

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